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Debt Solutions for Florida Residents

Debt SolutionsAmericans have been struggling with debt for the last decade, with many being left unable to pay their bills or provide for their families.  Thousands have lost their jobs, their homes, or both since the recession began.  For many, it is still a daily struggle to climb out of debt one step at a time.  In Florida especially, even the most frugal individuals may have found themselves under a mound of debt for reasons out of their control.

 

Why Are Floridians So Indebted?

 

In Florida, credit card debt is higher than average, large mortgages are prevalent, and many are unable to pay back their heavy student loans.  In fact, Florida’s average credit card debt remains slightly above the national individual average of around $6,000.  Since 2007, the housing market crash has left its sting as homes lost their value and mortgages became more difficult to pay off.  Since three of the ten largest universities in the United States belong to Florida, students are graduating with over $16,000 worth of student loan debt.

 

Why Does Debt Occur So Frequently?

 

There are positive aspects of debt: the reasons why people use credit cards and take out loans in the first place.  Debt allows people to purchase their homes or vehicles, send their kids to college, or enjoy owning things in the present that can be paid off in the future.  Debt, especially short-term debt, can actually be a lifesaver when it comes to needing quick cash for medical bills, car repairs, or even just to get the rent paid.

 

Short-Term Debt, Long-Term Gain

 

So what are some of the ways to use debt as an advantage rather than becoming trapped by it?

 

1.  Stick to a plan.  It is easy to begin to feel comfortable with debt, and continue adding to it instead of staying focused and paying it down.  Be sure to consider every possible scenario before taking out a loan or pulling out the credit card.

 

2.  Get an emergency fund.  It is important to start saving for emergencies so that day to day survival does not become an issue.  Most people with emergency funds try to save anywhere from one to three month’s worth of living expenses, so that if the worst happens, they will not need to panic.

 

3.  Take out a short-term loan.  For the times when the emergency fund runs out, or for people living paycheck to paycheck who have an unexpected financial dilemma, a short-term loan like an auto title loan can be a solution.  Embassy Loans offers auto title loans online for people who need help quickly, without the lengthy application or credit check process that other loans require.



Embassy Loans is a leading provider of auto title loans since 2005

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Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

Monthly Interest Rates range from 1.5% to 2.5% (18% to 30% APR), with 15-18 Month Terms.

No Prepayment Penalties!

Embassy Loans uses “Title Loans” for advertisement purposes only and provides auto equity loans. Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

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Frequently Asked Questions

What is an Auto Equity Loan?

An auto equity loan, sometimes known as a car title loan or a car equity loan, is a type of loan that allows you to borrow money by using your vehicle as collateral. The loan is secured by your vehicle, meaning you agree to use the equity in your car to back the loan. 

What is an Unsecured Personal Loan

An unsecured personal loan is a loan that does not require collateral. Funds are provided based on your credit worthiness and your ability to repay. 

What Is the Credit Builder Program

The credit builder program is designed to help individuals establish or improve their credit score with the primary purpose of building a positive credit history through regular payments.

Can i have more than one Loan at a time?

Embassy Loans can only extend one loan at a time and it’s advisable to start with one and focus on making payments in a timely manner to prevent default.

What happens if I miss a payment?

Missing a payment can have negative consequences, including late fees, a drop in your credit score, and potential default on the loan. Consistent, on-time payments are crucial to benefit from the program.